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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #18,281
  • Aug 29, 2007 3:03pm Aug 29, 2007 3:03pm
There should be a 1h 5sma retracement coming , and it might go to the 4h 5sma during the process
COT: The precious data ignored
  • #18,282
  • Aug 29, 2007 3:04pm Aug 29, 2007 3:04pm
Quoting lilmoe
Zoran, i want you to take a look at this please... it's very similar to the channel u and i were talking about last time. (4h TF)

the green trendline is somewhat overlapping with the top of the channel. which is also overlapping with another fibo (white color) that i have drawn since it's last downward movement that retraced to more than 100% of it. i think the next target will be 161.8 (breakout) of the white fibo if broken then it will hit the top of the channel. perfect setting don't u think?? since the qqe and momentum are all pointing up at the moment.

next target will be 236.02 i hope (161.8% fib)


Attachment


please give me some feedback.

lilmoe
Yes, excellent analysis. It is definately going up (I am long) but at the moment I'm trying to determine the reversal point for a possible low retest! There is a lot going on up there so it's difficult to pin-point!
  • #18,283
  • Aug 29, 2007 3:05pm Aug 29, 2007 3:05pm
well folks, i'm just wondering, will Cable reach 2.0270 on Thursday??
any opinions?
thanx
  • #18,284
  • Aug 29, 2007 3:06pm Aug 29, 2007 3:06pm
  •  jmatt
  • | Joined Jul 2007 | Status: Forex is great, God is better!!! | 60 Posts
Quoting AlphaGA
As for the momentum, I always had one question that I have been hesitating to ask. Let's say we're looking at 30M, 1H or 4H, how much momemtum is appropriate to make an entry. I guess I am looking at a yard stick (measurement) like 45 degrees on 30M or 30 degrees on 1H and so on. I understand that this needs to be interpreted in conjunction with other indicators but if someone could shed some light on this, it would be greatly appreciated.

This one single aspect has been gray to me most of the time but other than that Aus's system is crystal clear (I have been following it for over a month now)

If I see that no one answers it, I would consider this as an irrelevant question and delete my posting (as my gesture to the forum that I care for keeping this thread clean)

Thank you.

~G.
aus posted a 1hr & 4 hr chart showing momentum...2 days ago about 9:00 pm est.....don't know exact number...i saved picture of chart to my computer...doesn't say the post #.....hope that helps u find it
  • #18,285
  • Aug 29, 2007 3:06pm Aug 29, 2007 3:06pm
Here comes the retracemet.. I cashed in my 1st target @ 234. 40
  • #18,286
  • Aug 29, 2007 3:08pm Aug 29, 2007 3:08pm
Quoting lilmoe
Dow just freaken broke Major Fibo 50% line

guys, i think we're up for some fireworks!
There's an important trendline holding it down. On the daily, draw a line from the peak to the next lower pivot. Currently the line is sitting on 13,333.

Time for the gym and then bed.

Later
  • #18,287
  • Aug 29, 2007 3:08pm Aug 29, 2007 3:08pm
Quoting AlphaGA
As for the momentum, I always had one question that I have been hesitating to ask. Let's say we're looking at 30M, 1H or 4H, how much momemtum is appropriate to make an entry. I guess I am looking at a yard stick (measurement) like 45 degrees on 30M or 30 degrees on 1H and so on. I understand that this needs to be interpreted in conjunction with other indicators but if someone could shed some light on this, it would be greatly appreciated.

This one single aspect has been gray to me most of the time but other than that Aus's system is crystal clear (I have been following it for over a month now)

If I see that no one answers it, I would consider this as an irrelevant question and delete my posting (as my gesture to the forum that I care for keeping this thread clean)

Thank you.

~G.
This is the toughest area for me to understand, as well. I hope someone is kind enough to patiently answer this for you.

Ron
  • #18,288
  • Aug 29, 2007 3:10pm Aug 29, 2007 3:10pm
Quoting auslanco
Here comes the retracemet.. I cashed in my 1st target @ 234. 40
You crack me up Aus.... It's nearly time for bed here in the UK and you're still up! My wife gives me a hard time and I sleep during decent hours! Great thread though, a bit addictive.
  • #18,289
  • Aug 29, 2007 3:11pm Aug 29, 2007 3:11pm
Quoting auslanco
Here comes the retracemet.. I cashed in my 1st target @ 234. 40

Way to go Auslanco, hopefully some day I will be saying that as well. I have a question for you:
in a case like this, how would we determine which 5sma to use. has blown thru 1h, 4h, probably daily (157.88) at present. Do we go to weekly or use 100sma or 50ema

meant 235.9 area, sorry
Trade what you see, not what you think.
  • #18,290
  • Aug 29, 2007 3:12pm Aug 29, 2007 3:12pm
Quoting Zoran
You crack me up Aus.... It's nearly time for bed here in the UK and you're still up! My wife gives me a hard time and I sleep during decent hours!
bed time passed.. I guess I will have wait till tomorrow night No wonder I cant have a second baby
  • #18,291
  • Aug 29, 2007 3:12pm Aug 29, 2007 3:12pm
Quoting auslanco
Here comes the retracemet.. I cashed in my 1st target @ 234. 40

Cool, Aus, my tp limit also reached
Looking for another retracement to enter again .. have a good nite to you!
  • #18,292
  • Aug 29, 2007 3:15pm Aug 29, 2007 3:15pm
Aussie's momentum has been a pain in my ass too :-).
Seemingly, only Aussie knows exactly how to read the momentum.
At the very beginning, i thought momentum is so important that we use it as entry/exit signal. But if we stick to Aussie's method plus the momentum, I always messed up the trades. Now let's go back to Aussie's basic strategy (in his system post), he mentioned no momentum. Then now I don't really consider momentum, but only trade Aussie system's major signals (actually by following Aussie's trades), now things are better.

so my current understanding is that momentum only give you a hint about the strength of current candle(not completed) in a unreliable way. Mostly momentum can tell u the strength and direction of current candle, but often it goes wrong too. Why? since like Aussie complained before: MT4's momentum change drastically according to current price moves. I then used VT's momentum in MT4, and it still changes anytime due to price moves. So it is not MT4 or VT's problem. So momentum's current pointing direction cannot be fully trusted. I suggest you take the latest completed momentum as reference, instead of the current pointing. I posted this question on "How to read the momentum" quite a few times, but nobody answers.

Well, the bottom line is that even if we dont use momentum, Aussie's system still working fine. You pay attention to how/when Aussie mention momentum, u'll feel relieved.

Quoting AlphaGA
As for the momentum, I always had one question that I have been hesitating to ask. Let's say we're looking at 30M, 1H or 4H, how much momemtum is appropriate to make an entry. I guess I am looking at a yard stick (measurement) like 45 degrees on 30M or 30 degrees on 1H and so on. I understand that this needs to be interpreted in conjunction with other indicators but if someone could shed some light on this, it would be greatly appreciated.

~G.
  • #18,293
  • Aug 29, 2007 3:17pm Aug 29, 2007 3:17pm
  •  jmatt
  • | Joined Jul 2007 | Status: Forex is great, God is better!!! | 60 Posts
Quoting Pips_Cruiser
This is the toughest area for me to understand, as well. I hope someone is kind enough to patiently answer this for you.

Ron
post #16378.....page 1092 shows aus's charts for momentum
  • #18,294
  • Aug 29, 2007 3:17pm Aug 29, 2007 3:17pm
Quoting auslanco
bed time passed.. I guess I will have wait till tomorrow night No wonder I cant have a second baby
God gives life not human .. pray to Him
Ask and ye shall receive by faith
  • #18,295
  • Aug 29, 2007 3:19pm Aug 29, 2007 3:19pm
Quoting maestr2
Way to go Auslanco, hopefully some day I will be saying that as well. I have a question for you:
in a case like this, how would we determine which 5sma to use. has blown thru 1h, 4h, probably daily (157.88) at present. Do we go to weekly or use 100sma or 50ema
it something you will know by experience... Just study the waves.. how different TF (5SMA) grab the price and release it. It's called the Magnet MA(I named it). Professional traders dont use 5 SMA's only the profitable traders use it.
  • #18,296
  • Aug 29, 2007 3:20pm Aug 29, 2007 3:20pm
NICE!

I missed it again. 3 days in a row. I did make 68 pips, but i always seem to miss the big swing.

Great profit Aus!

I have ot get back to the kids, hopefully I can make it back for the retracement.

Good job everyone, it's nice to read the attitude changes.

Thanks again Aus and all key players!

Brandon
  • #18,297
  • Aug 29, 2007 3:30pm Aug 29, 2007 3:30pm
Quoting AlphaGA
As for the momentum, I always had one question that I have been hesitating to ask. Let's say we're looking at 30M, 1H or 4H, how much momemtum is appropriate to make an entry. I guess I am looking at a yard stick (measurement) like 45 degrees on 30M or 30 degrees on 1H and so on. I understand that this needs to be interpreted in conjunction with other indicators but if someone could shed some light on this, it would be greatly appreciated.

This one single aspect has been gray to me most of the time but other than that Aus's system is crystal clear (I have been following it for over a month now)

If I see that no one answers it, I would consider this as an irrelevant question and delete my posting (as my gesture to the forum that I care for keeping this thread clean)

Thank you.

~G.
Aus has said 60 degrees in the past. Check out Post #121 and Post #2854.

M2B
  • #18,298
  • Aug 29, 2007 3:32pm Aug 29, 2007 3:32pm
I dont think there will be a retracemet .. we may reach our second target before 2000EST
  • #18,299
  • Aug 29, 2007 3:34pm Aug 29, 2007 3:34pm
M2B, rs5, Brok .. any of you guys monitoring the market during Tokyo???
  • #18,300
  • Aug 29, 2007 3:37pm Aug 29, 2007 3:37pm
at 00.50 gmt JPY Retail Sales y/y http://www.forexfactory.com/images/m...act_medium.gif
-0.9%-0.4%


what do you think about that?
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